Tiffany & Co. will open its doors in India in an effort to capitalize on its already strong image and brand awareness in the country, the company said Wednesday.
The luxury jeweler will partner with Reliance Brands Limited, which is part of the Reliance Industries conglomerate owned by Mukesh Ambani, recently ranked by Forbes as the richest man in Asia. Tiffany will open stores in Delhi during the second half of the year, and further locations in Mumbai in the second half of 2020.
“As a global luxury jeweler with stores in many of the world’s most important cities, Tiffany’s emergence in these Indian commerce centers with their growing luxury consumer base presents a unique opportunity,” said Philippe Galtié, Tiffany’s executive vice president of global sales.
Reliance, which helps launch and build international brands in the luxury sector, has already introduced Armani, Hugo Boss, Brooks Brothers and other brands to the Indian market.
“Tiffany needs no introduction in India — it is iconic and timeless,” said Darshan Mehta, president and CEO of Reliance Brands.